The following table contains data on the fictional country of Penguinia. Presented are the country's nominal GDP, real GDP, and the GDP chain price index for various years. The base year for the chain price index is 1993. Using the data in the table, fill in the blank cells with the correct values. Year Nominal GDP Real GDP GDP Chain Price Index 2002 $8,766 $6,871 127.58 2006 $8,699      119.08 2010 $9,203 $7,926        From 2002 to 2006, nominal GDP      by     , while real GDP     by

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A: The Real GDP can be calculated by the given equation.

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A:

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Q: 1. Calculating inflation using a simple price index Consider a fictional price index, the…

A: Cost and Price index:Cost and price index can be calculated by using following formula:

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A: Аns  а:  The  bаskets  inсlude  the  соmmоdities  seleсted  fоr  соmрutаtiоn  оf  СРI.  If…

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A:

Q: Perform these same calculations for 2018 and 2019, and enter the results in the following table.…

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